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April 15, 2025
Economy
News

Trump Pledges Fast-Track for Nvidia’s $500 Billion Investment.

PULSE POINTS:

❓What Happened: NVIDIA plans a substantial investment in U.S. infrastructure to create AI supercomputers.

👥 Who’s Involved: NVIDIA CEO Jensen Huang, President Donald J. Trump.

📍 Where & When: Arizona and Texas, announcement made on April 14, 2025.

💬 Key Quote: “The engines of the world’s AI infrastructure are being built in the United States for the first time.” — Jensen Huang.

⚠️ Impact: Potential growth in U.S. chip manufacturing; concerns about the impact of tariffs on demand.

IN FULL:

Tech giant NVIDIA has announced a major push to manufacture artificial intelligence (AI) supercomputers in the United States, committing to a $500 billion investment. This marks the first time the company will build its AI infrastructure domestically. President Donald J. Trump responded to the announcement on Truth Social, emphasizing that necessary permits for NVIDIA and similar businesses will be expedited to support what he described as the “Golden Age of America.”

The initiative involves over a million square feet dedicated to the production and testing of NVIDIA’s specialized Blackwell chips in Arizona, alongside the assembly of AI supercomputers in Texas. This investment is expected to realize up to half a trillion dollars in AI infrastructure over the next four years.

NVIDIA’s CEO, Jensen Huang, highlighted the strategic advantage of U.S.-based manufacturing. Huang stated it allows the company to better meet the demand for AI technology while fortifying supply chains and increasing operational resilience. “The engines of the world’s AI infrastructure are being built in the United States for the first time,” Huang said.

The announcement comes amid the Trump Administration’s stance that partial tariff waivers for electronics, such as phones and computer parts, are temporary. These waivers will remain until a new, industry-specific tariff strategy is devised. Trump’s economic strategy encourages global manufacturers to relocate production to the U.S.

The move by NVIDIA  comes after President Trump announced a significant investment by South Korean auto manufacturer Hyundai last month. The company will invest $21 billion in the United States. At least $5.8 billion of which will be invested in a new steel plant in Louisiana, providing over 1,400 jobs.

President Trump’s tariff policies have brought nearly all affected countries to the negotiating table except China. The Communist-led government has instead opted for its own retaliatory tariffs.

By Popular Demand.
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22 minutes ago
Lawfare

Planned Parenthood Is Suing Trump to Stop Abortion Funding Cuts in ‘One Big Beautiful Bill.’

PULSE POINTS

❓WHAT HAPPENED: Planned Parenthood filed a lawsuit challenging a provision in President Donald J. Trump’s “One Big Beautiful Bill” that would strip Medicaid funding from its abortion centers.

👤WHO WAS INVOLVED: Planned Parenthood, the Trump administration, and the Centers for Medicare & Medicaid Services.

📍WHEN & WHERE: The lawsuit was filed on Monday, July 7, 2025, in a federal court in Boston, Massachusetts.

💬KEY QUOTE: “The true design of the Defund Provision is simply to express disapproval of, attack, and punish Planned Parenthood, which plays a particularly prominent role in the public debate over abortion,” Planned Parenthood stated in its complaint.

🎯IMPACT: Planned Parenthood claims the provision would have “catastrophic consequences” for over one million patients annually who rely on Medicaid services at its nearly 600 facilities.

IN FULL

Planned Parenthood has filed a lawsuit against the Trump administration, targeting a specific provision in the “One Big Beautiful Bill”—signed into law last week by President Donald J. Trump—that would revoke Medicaid funding from its abortionist clinics. The lawsuit, submitted in a Boston federal court, argues that the provision is unconstitutional and aims to prevent the organization’s abortionists from receiving Medicaid money.

The organization stated that over one million patients annually rely on Medicaid services provided by its nearly 600 facilities. Planned Parenthood described the measure as an effort to “attack and punish” the organization due to its status as the industry leader in aborting babies.

“The true design of the Defund Provision is simply to express disapproval of, attack, and punish Planned Parenthood, which plays a particularly prominent role in the public debate over abortion,” the organization claimed in its filing.

The Centers for Medicare and Medicaid Services (CMS), a division of the Department of Health and Human Services (HHS) that oversees Medicaid, has not commented on the lawsuit. Planned Parenthood asserts that the provision would lead to “catastrophic consequences,” claiming it would negatively impact patients who depend on Medicaid.

In June, the top abortion provider suffered a significant legal blow when the U.S. Supreme Court ruled that state governments have the authority to block Medicaid funding for Planned Parenthood clinics, siding with South Carolina in Medina v. Planned Parenthood South Atlantic. Medicaid and government grants comprise a significant portion of Planned Parenthood’s funding.

Image by Tim Evanson.

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By Popular Demand.
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1 hour ago
Economy
News

Trump Is Imposing Tariffs of Up to 40% on These Countries:

PULSE POINTS

❓WHAT HAPPENED: President Donald J. Trump announced 25 percent tariffs on goods from South Korea and Japan, effective August 1, and tariffs of up to 40 percent on several other countries, mostly in Asia.

👤WHO WAS INVOLVED: President Trump, Japanese Prime Minister Shigeru Ishiba, South Korean leadership, South Africa, Burma (Myanmar), Laos, and others.

📍WHEN & WHERE: Announced on Monday via Truth Social; tariffs take effect on August 1.

💬KEY QUOTE: “We invite you to participate in the extraordinary Economy of the United States.” – Donald Trump

🎯IMPACT: The tariffs will increase pressure on Japan, South Korea, and the others to make concessions to the U.S., given the importance of the U.S. as an export market.

IN FULL

President Donald J. Trump has announced that the United States will impose 25 percent tariffs on goods from South Korea and Japan starting August 1. The announcement was made through letters to the leaders of both nations and posted on Truth Social. The tariffs will apply to all Japanese products entering the United States, separate from sectoral tariffs.

Later in the day, President Trump announced tariffs on additional countries. Malaysia, Kazakhstan, and Tunisia will face 25 percent tariffs, South Africa and Bosnia will face 30 percent, Indonesia faces 32 percent, Bangladesh and Serbia face 35 percent, Thailand and Cambodia face 36 percent, and Laos and Burma (Myanmar) face 40 percent. White House press secretary Karolin Leavitt explained, “It’s the President’s prerogative, and those are the countries he chose.”

Trump’s letters to the mostly Asian countries emphasized the importance of the trading relationship with the U.S. Trump invited them to participate in the U.S. economy, while stressing that the current balance of trade is unfair. The letters also warned that, should tariffs be raised on the U.S., punishing reciprocal measures will be added to the August 1 baseline rates.

The tariffs follow a 90-day pause on reciprocal tariffs, which had been set to expire on July 9. The later implementation date of August 1 gives businesses in both nations a brief window to adjust to the new trade conditions. It is also possible that the targeted countries, many of which depend heavily on exports, will now come to Trump with last-minute concessions.

President Trump’s tariff policies have already led to significant investments in U.S. manufacturing, and many nations, including the United Kingdom and Vietnam, have already reached deals with the U.S. to avoid heavier tariffs.

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By Popular Demand.
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2 hours ago
The Resistance

Fired USAID Staff Are Forming a Resistance Movement Against Trump.

PULSE POINTS

❓WHAT HAPPENED: A group of fired United States Agency for International Development (USAID) staff is reportedly organizing resistance efforts against Trump.

👤WHO WAS INVOLVED: Former USAID workers, Ro Tucci, and the Trump administration.

📍WHEN & WHERE: The resistance efforts began after the Trump White House shuttered USAID earlier this year, with the operation revealed on July 7, 2025.

💬KEY QUOTE: “You just released a bunch of well-trained individuals into your population,” a current federal official boasted.

🎯IMPACT: The operation suggests a resistance effort among federal workers, similar to the one seen during Trump’s first term, is gaining some traction. It also indicates that the administration was correct in suspecting that certain officials would have undermined it if they had been left in place. Actions taken by the Trump White House to implement significant federal workforce reductions and remove career employees from policy-sensitive roles are likely to lessen the impact of any “resistance” efforts.

IN FULL

A group of recently fired United States Agency for International Development (USAID) staffers, along with other government employees, is reportedly organizing a resistance against the Trump administration. The former federal employees boast that they intend to utilize their experience in working around the world against authoritarian regimes to build their efforts, appearing to suggest the foreign aid agency was, as many suspected, active in foreign ‘color revolutions.’

“Take it from those of us who worked in authoritarian countries: We’ve become one,” a current federal government employee stated, adding what could be interpreted as a political threat: “They were so quick to disband AID, the group that supposedly instigates color revolutions. But they’ve done a very foolish thing. You just released a bunch of well-trained individuals into your population. If you kept our offices going and had us play solitaire in the office, it might have been safer to keep your regime.”

Reminiscent of ‘resistance’ efforts during President Donald J. Trump‘s first term, the former USAID staffers claim they are organizing training sessions on “noncooperation,” a tactic aimed at slowing the advance of the Trump White House’s policy agenda. The group even believes their efforts could culminate in a nationwide general strike.

Among the resources being used in these training sessions is an old Central Intelligence Agency (CIA) handbook, which instructs readers on how to conduct acts of sabotage. “Widespread practice of simple sabotage will harass and demoralize enemy administrators and police,” the intelligence agency manual states, adding: “The saboteur may have to reverse his thinking… where he formerly thought of keeping his tools sharp, he should now let them grow dull; surfaces that formerly were lubricated now should be sanded; normally diligent, he should now be lazy and careless.”

While a number of the individuals and groups leading the resistance efforts have managed to remain anonymous, DemocracyAID has been identified as an organizer of invite-only anti-Trump resistance training sessions for federal employees. The group is co-led by Ro Tucci, who previously served as director of the USAID Center for Democracy, and its training sessions thus far primarily focus on simple acts of defiance, such as how to use office socializing to identify allies and how to conduct work slowdowns.

However, the Trump White House appears to be well aware of the resistance efforts. “It is inherently undemocratic for unelected bureaucrats to undermine the duly elected President of the United States and the agenda he was given a mandate to implement,” Deputy White House press secretary Anna Kelly said regarding the former USAID staffers’ efforts.

Image via USAID.

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By Popular Demand.
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2 hours ago
William Upton
Politics
Sports

California Refuses to Comply with Federal Law Protecting Women’s Sports, Faces DOJ Action.

PULSE POINTS

❓WHAT HAPPENED: The State of California has rejected a federal resolution agreement that would bring the state into compliance with federal law and prevent men from competing in women’s sports. In response, U.S. Secretary of Education Linda McMahon says she is referring the matter to the Department of Justice for legal action.

👤WHO WAS INVOLVED: U.S. Secretary of Education Linda McMahon, the U.S. Department of Education, California Governor Gavin Newsom (D), the California Department of Education (CDE), the California Interscholastic Federation (CIF), the Department of Justice (DOJ), and transgender athletes.

📍WHEN & WHERE: Sec. McMahon announced California’s decision on Monday, July 7, 2025.

💬KEY QUOTE: “California has just REJECTED our resolution agreement to follow federal law and keep men out of women’s sports,” Sec. McMahon wrote. “Turns out Gov. Newsom’s acknowledgment that ‘it’s an issue of fairness’ was empty political grandstanding.”

🎯IMPACT: Sec. McMahon indicated that she will refer California’s decision not to comply with federal law to the DOJ for further legal action.

IN FULL

California has rejected a federal resolution agreement that would bring the state into compliance with federal law and prevent men from competing in women’s sports. The state’s decision was announced Monday, July 7, by the U.S. Secretary of Education Linda McMahon in a post on X (formerly Twitter).

“California has just REJECTED our resolution agreement to follow federal law and keep men out of women’s sports,” Sec. McMahon wrote. “Turns out Gov. [Gavin] Newsom’s acknowledgment that ‘it’s an issue of fairness’ was empty political grandstanding.” The Trump administration’s Education Secretary added that Governor Newsom (D) would soon be hearing from the U.S. Attorney General, Pam Bondi, indicating that McMahon will soon refer the matter to the Department of Justice (DOJ) for legal action.

The response from California‘s Department of Education is blunt. Signed by the state agency’s general counsel, Len Garfinkle, the notice states: “The California Department of Education (CDE) received the U.S. Department of Education’s Office of Civil Rights’ (OCR’s) June 25, 2025 Letter of Finding and Proposed Resolution Agreement in the above-referenced OCR matter. The CDE respectfully disagrees with OCR’s analysis, and it will not sign the Proposed Resolution Agreement.”

A separate response from the California Interscholastic Federation (CIF) states it “concurs with the response of the California Department of Education (CDE),” indicating that the organization is also refusing to sign the U.S Department of Education’s resolution agreement.

In late June, the U.S. Department of Education found that the State of California had violated Title IX with its policies allowing biological males to compete in women’s sports. As part of the determination against California, the Department of Education stipulated that the state restore any female athletic record taken by biological males. Additionally, state officials were directed to begin immediately complying with federal law.

In February, President Donald J. Trump signed an Executive Order barring men from participating in women’s sports.

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By Popular Demand.
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3 hours ago
Lauren Gallagher
News
World

‘Leave Bolsonaro Alone!’ — Trump Warns Brazil Against ‘Witch Hunt’ of Populist Leader.

PULSE POINTS

❓WHAT HAPPENED: On Monday, President Donald J. Trump cautioned Brazil’s far-left government and judiciary that his administration opposes the ongoing lawfare campaign against populist former President Jair Bolsonaro.

👤WHO WAS INVOLVED: President Donald J. Trump, Jair Bolsonaro, the Trump administration, and the Brazilian government.

📍WHEN & WHERE: Brazil and the United States, July 7, 2025.

💬KEY QUOTE: “The only Trial that should be happening is a Trial by the Voters of Brazil — It’s called an Election. LEAVE BOLSONARO ALONE!” – President Donald J. Trump

🎯IMPACT: Trump backing Bolsonaro could cause friction between the U.S. and Brazil and bolster Bolsonaro’s supporters.

IN FULL

President Donald J. Trump has defended populist former Brazilian President Jair Bolsonaro, sometimes dubbed the ‘Tropical Trump,’ in a post on his Truth Social platform, calling the charges against him a “witch hunt.” Bolsonaro, who lost reelection in 2022 to the far-left Luiz Inácio Lula da Silva—after Bolsonaro’s attempts to do away with voting machine-based elections were blocked—has been banned from seeking office until 2030.

“Brazil is doing a terrible thing on their treatment of former President Jair Bolsonaro. I have watched, as has the World, as they have done nothing but come after him, day after day, night after night, month after month, year after year!” Trump wrote. He continued, “He is not guilty of anything, except having fought for THE PEOPLE.”

Trump praised Bolsonaro as a “strong Leader” and tough negotiator on trade. “His Election was very close, and now, he is leading in the Polls,” he added. Trump concluded with a direct message: “The Great People of Brazil will not stand for what they are doing to their former President. I’ll be watching the WITCH HUNT of Jair Bolsonaro, his family, and thousands of his supporters, very closely. The only Trial that should be happening is a Trial by the Voters of Brazil — It’s called an Election. LEAVE BOLSONARO ALONE!”

He also compared the efforts to exclude Bolsonaro from Brazil’s elections to the lawfare campaign against him in 2024, writing, “This is nothing more, or less, than an attack on a Political Opponent — Something I know much about! It happened to me, times 10.”

Brazilian President Lula responded on X, formerly Twitter: “We are a sovereign country. We do not accept interference or guardianship from anyone. We have solid and independent institutions. No one is above the law. Especially those that threaten freedom and the rule of law.” However, whether the Brazilian people are truly sovereign if they are denied the opportunity to vote for Bolsonaro as their preferred candidate is debatable.

Lula had himself been convicted of corruption and was blocked from running in 2018. However, his convictions were overturned in 2021 by a court largely composed of judges appointed by him or his political allies.

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By Popular Demand.
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4 hours ago
News

Iranian Prez Backs Away from Fatwa on Trump.

PULSE POINTS

❓WHAT HAPPENED: The Iranian President has claimed there is no official fatwa against Donald Trump from the Iranian government, despite recent news to the contrary.

👤WHO WAS INVOLVED: Iranian President Masoud Pezeshkian and Tucker Carlson.

📍WHEN & WHERE: Interview aired on Monday, July 7, 2025.

💬KEY QUOTE: “I can assure you that the meaning of this fatwa should not be construed or considered as a threat against an individual.” – Masoud Pezeshkian

🎯IMPACT: The statement aims to clarify Iran’s stance and counterclaims of threats against Trump.

IN FULL

In an interview with Tucker Carlson, Iranian President Masoud Pezeshkian addressed claims regarding fatwas supposedly issued against former U.S. President Donald Trump. Pezeshkian emphasized that, to his knowledge, no such decrees had been issued by the Iranian government or the Supreme Leader.

Pezeshkian said that any statements made by Iranian ayatollahs were not directed at Trump personally but were instead a condemnation of insults to religion and religious figures. He said these should not be seen as threats against any individual.

The discussion with Carlson also touched upon accusations that Iran had backed assassination attempts against Trump, which Pezeshkian dismissed as misinformation propagated by Israeli Prime Minister Benjamin Netanyahu.

Pezeshkian addressed concerns about Iranian nationals in the U.S., refuting claims that they were sleeper cells acting on government orders. He stressed that Iranians are known for their peaceful nature and contributions to science and culture.

Pezeshkian’s remarks aim to counter narratives suggesting Iran’s hostility toward the United States and emphasize the nation’s preference for peace and stability in the region.

Last week, Grand Ayatollah Naser Makarem Shirazi issued a fatwa declaring that anyone who threatens Iran’s Supreme Leader Ali Khamenei a “Muharib,” i.e., “an enemy of God” and his messengers, according to Iran’s state media. The fatwa specifically named U.S. President Donald J. Trump. Notably, a “Muharib” is subject to the death penalty.

Shirazi is a senior leader in Democratic New York City mayoral candidate Zohran Mamdani’s sect of Shia Islam. Iran’s Mehr News Agency reported that Shirazi, who helped to draft Iran’s constitution following the Islamic Revolution, called on Muslims worldwide “to make these enemies regret their words and mistakes.” The 98-year-old cleric emphasized that supporting such “enemies” is considered “haram” (forbidden) under Islamic law.

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4 hours ago
Immigration

Border Czar Homan Wants to Turbocharge ICE Arrests to 7,000 a Day With ‘Big, Beautiful Bill’ Money.

PULSE POINTS

❓WHAT HAPPENED: Tom Homan, President Donald J. Trump’s Border Czar, is pushing for U.S. Immigration and Customs Enforcement (ICE) to arrest 7,000 illegal immigrants daily now that the “Big, Beautiful Bill” has been signed, more than doubling the current quota.

👤WHO WAS INVOLVED: Tom Homan, President Trump, ICE agents, Department of Homeland Security (DHS) Assistant Secretary Tricia McLaughlin, and White House Deputy Chief of Staff Stephen Miller.

📍WHEN & WHERE: The announcement was made outside the White House in July 2025.

💬KEY QUOTE: “And for those that say 3,000 [arrests] a day is too much, I want to remind them, do the math, we have to arrest 7,000 every single day for the remainder of this administration just to catch the ones Biden released into the nation,” said Homan.

🎯IMPACT: The One Big Beautiful Bill Act empowers ICE to hire 10,000 new officers, doubling the agency’s capacity for detaining illegal immigrants.

IN FULL

President Donald J. Trump’s Border Czar, Tom Homan, has announced a push for U.S. Immigration and Customs Enforcement (ICE) to increase their illegal alien arrest targets to 7,000 a day. This new target more than doubles the previous quota set for the agency.

This announcement comes after Trump signed the One Big Beautiful Bill Act, which massively boosts funding for border security and ICE deportation efforts. The bill, signed into law on July 4, also empowers ICE to hire 10,000 additional officers.

During a press briefing outside the White House, Homan said, “[F]or those that say 3,000 [arrests] a day is too much, I want to remind them, do the math, we have to arrest 7,000 every single day for the remainder of this administration just to catch the ones Biden released into the nation.”

Homeland Security Assistant Secretary Tricia McLaughlin noted that the new law would “turbocharge” Trump’s deportation efforts. Homan’s 7,000-a-day target exceeds even the 3,000-a-day target previously put forward by White House Deputy Chief of Staff for Policy Stephen Miller, one of the administration’s most prominent immigration hawks.

The Trump administration initially set a quota of 1,800 arrests per day in January.

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5 hours ago
Immigration

California Republicans Are Lobbying Trump to Give Illegal Immigrants Amnesty.

PULSE POINTS

❓WHAT HAPPENED: Republican lawmakers in California sent a letter to President Donald J. Trump urging changes to immigration enforcement policies and advocating for a legal pathway for so-called “non-criminal undocumented immigrants [sic].”

👤WHO WAS INVOLVED: The letter was signed by state Sen. Minority Leader Brian Jones, Sen. Suzette Valladares, and four other Republican lawmakers.

📍WHEN & WHERE: The letter was sent to the Trump White House in late June, and revealed publicly over the July 4 weekend.

💬KEY QUOTE: “America needs a system that reflects both compassion and lawfulness—one that upholds sovereignty while recognizing the reality on the ground,” the lawmakers claim.

🎯IMPACT: The letter highlights continued resistance to strong borders and mass deportations among some in the Republican Party, particularly those with close ties to industries enjoying cheap foreign labor.

IN FULL

A group of six Republican state lawmakers in California is demanding that President Donald J. Trump direct U.S. Immigration and Customs Enforcement (ICE) to end its “sweeping raids” against illegal immigrants and instead open “a path to legal status” for what they claim are “non-criminal undocumented immigrants [sic].” Notably, while unlawful entry into the United States only currently carries a civil penalty, under the U.S. Code, the act is still considered a criminal offense, meaning there are no actual “non-criminal undocumented immigrants.”

“We have heard from employers in our districts that recent ICE raids are not only targeting undocumented workers, but also creating widespread fear among other employees, including those with legal immigration status,” the group of six California Republicans claimed, adding: “We urge you to direct ICE and DHS to focus their enforcement operations on criminal immigrants, and when possible to avoid the kinds of sweeping raids that instill fear and disrupt the workplace.”

The letter’s signatories include California Senate Minority Leader Brian Jones (R), Sen. Suzette Valladares (R), Sen. Rosilicie Ochoa Bogh (R), Assembly Member Heath Flora (R), Assembly Member Diane Dixon (R), and Assembly Member Laurie Davies (R). Sen. Jones had previously introduced legislation that directed California state prisons and county jails to provide release dates for illegal immigrants convicted of serious felonies and other violent crimes to federal immigration authorities. However, the legislation failed to advance out of committee.

“America needs a system that reflects both compassion and lawfulness—one that upholds sovereignty while recognizing the reality on the ground,” the letter insists. The state lawmakers call on Trump and Congress to enact a pathway to legal status for so-called “non-criminal” illegal immigrants who supposedly have strong community ties. They also urge reforms to the H-2A and H-2B visa programs to authorize more legal guest workers across industries, alleging labor shortages in sectors such as construction, hospitality, and food processing—apparently preferring this to improving conditions to attract American workers.

According to the American Farm Bureau, the federal government previously authorized 384,900 H-2A temporary agriculture visas, while the H-2B visa program is capped at 66,000 annually. Notably, California’s latest jobs report found 1.1 million unemployed residents, with 659,000 job openings as of March 2025.

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5 hours ago
Christopher Tomlinson
Economy

Trump Will Impose Higher Tariffs on Nations Collaborating With ‘Anti-American’ BRICS Bloc.

PULSE POINTS

❓WHAT HAPPENED: President Donald J. Trump has threatened an extra 10 percent tariff on countries considering allying themselves with the BRICS bloc.

👤WHO WAS INVOLVED: President Trump, the BRICS bloc, and countries allying themselves with it.

📍WHEN & WHERE: President Trump announced the move in July 2025.

💬KEY QUOTE: “Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy.” — President Trump

🎯IMPACT: The move could undermine attempts by the BRICS nations to create an alternative to the U.S. dollar as the global reserve currency.

IN FULL

President Donald J. Trump has threatened 10 to 15 countries with extra tariffs of 10 percent should they choose to ally themselves with the BRICS alliance of Brazil, Russia, India, China, and South Africa against U.S. trade interests. President Trump announced the move on Truth Social on July 6.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy,” President Trump wrote.

In a separate post, he stated that the United States would start delivering tariff letters to various countries beginning July 7. According to officials, countries are expected to negotiate trade deals by July 9, but tariffs are likely to start on August 1.

President Trump has long maintained that the BRICS bloc threatens American trade interests and the U.S. dollar’s status as the global reserve currency. In January, he threatened 100 percent tariffs on any country that participates in creating a BRICS currency to rival the dollar.

“We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy,” President Trump said at the time.

BRICS has expanded since its inception, with several other nations building ties with the group, including Saudi Arabia, Argentina, Egypt, and Iran. Considering their oil wealth, the Gulf States joining the alliance could be pivotal in creating an alternative reserve currency.

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6 hours ago
Economy
Politics

Tesla Shares Tanked After Musk’s ‘America Party’ Announcement.

PULSE POINTS

❓WHAT HAPPENED: Tesla’s stock price dropped seven percent after Elon Musk announced the formation of a new political party, the “America Party.”

👤WHO WAS INVOLVED: Elon Musk, President Donald J. Trump, and Tesla investors.

📍WHEN & WHERE: Announcement made over the weekend of July 4; stock slump occurred during Monday morning trading.

💬KEY QUOTE: “Today, the America Party is formed to give you back your freedom.” – Elon Musk

🎯IMPACT: Tesla’s stock decline and potential investor concerns over Musk’s political involvement.

IN FULL

Tesla’s stock price fell seven percent to $293 per share in morning trading on Monday, following Elon Musk‘s announcement over the weekend that he has formed a new political party named the “America Party.” The announcement came after Musk’s public split with President Donald J. Trump over the recently signed “One Big Beautiful Bill,” which increases immigration enforcement and cuts taxes for workers.

Musk, in a July 5 post on X, stated: “Today, the America Party is formed to give you back your freedom.” He also hinted that his party would focus on influencing a small number of key Senate and House races. President Trump responded on Truth Social, calling Musk a “TRAIN WRECK” and accusing him of going “completely off the rails.” Musk has not yet disclosed specific steps taken to formalize the party, a process that would involve navigating state and federal regulations.

The announcement has raised concerns among Tesla investors. Notably, James Fishback, a former top Department of Government Efficiency (DOGE) staffer and technology investor, announced his firm would be pulling its support for Musk and Tesla, citing the billionaire’s political aspirations as potentially hurting Tesla’s business prospects. “Elon left us with no other choice,” Fishback said over the weekend.

Tesla was already facing significant market challenges, with sales of its electric vehicles dropping more than 13 percent from April to June compared to the same period last year. In Europe, sales fell by nearly 50 percent in April, even as the overall electric vehicle market grew.

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